SEATTLE--(BUSINESS WIRE)--Plum Creek Timber Company, Inc. (NYSE: PCL) today announced a quarterly
cash dividend of $0.42 per share. The dividend is payable on March 1,
2013, to shareholders of record as of Feb. 15, 2013. Plum Creek’s
dividend is expected to be characterized as long-term capital gain
income primarily because the income generated by the sale of Plum
Creek’s timber is considered long-term capital gain. As such, Plum
Creek’s dividend is expected to be taxed at a maximum rate of 20 percent
for most U.S. taxpayers.

Plum Creek is one of the largest landowners in the nation and the most
geographically diverse, with approximately 6.4 million acres of
timberlands in major timber producing regions of the United States and
wood products manufacturing facilities in the Northwest. For more
information, visit www.plumcreek.com.